Interest in Bitcoin as a reserve asset is gaining traction globally, with the Czech Republic considering a Bitcoin to establish a strategic reserve.
The governor of the Czech National Bank, Aleš Michl, recently discussed the possibility of adding Bitcoin to the country’s foreign exchange reserves. In an interview with CNN Prima News, Michl stated that he was considering acquiring ‘a few Bitcoin’ for diversification purposes, though he emphasised it would not be a major investment. Any such decision would require approval from the bank’s seven-member board.
Despite Michl’s interest, the Czech National Bank is not currently planning to purchase Bitcoin, according to board adviser Janis Aliapulios. The bank is instead focusing on increasing its gold reserves, with a goal to boost holdings to 5% of total assets by 2028. However, Michl has not ruled out the possibility of revisiting Bitcoin as a diversification option in the future.
The growing interest in Bitcoin as a reserve asset comes as the cryptocurrency continues to outperform traditional assets, such as gold, with a 131% rise in value over the past year. Anndy Lian, a blockchain expert, believes Bitcoin’s potential as a reserve asset could redefine financial strategies globally, though its volatility remains a concern.
Meanwhile, the Bitcoin Act in the US is gaining traction, with bipartisan support for creating a strategic Bitcoin reserve. If passed, the act could solidify Bitcoin’s status as a savings technology, with some speculating that its price could surpass $1 million in the future.
